B.R. Goyal guides for 20-25% growth after 61% revenue surge
FY26 revenue hit ₹820 crore with profit up 78%. The company is now chasing larger contracts and new verticals to sustain the momentum.
— 3 earlier stories on BR Goyal Infrastructure Ltd. →What's new
- FY26 revenue rose 61% to ₹820 crore; net profit grew 78% to ₹44.9 crore.
- Management guided for 20-25% revenue growth in FY27 and EBITDA margins of 10-11%.
- The company plans to chase larger contracts above ₹200 crore and expand into wastewater treatment.
Why this matters
A nano-cap guiding for continued 20-25% top-line growth after a 61% surge is a strong signal. The shift toward larger-ticket EPC projects and a new wastewater vertical could change the company's risk and margin profile if the order book converts.
What we're watching
- Conversion of the ₹1,500-2,000 crore in pending bids into the official order book.
- Whether the 10-11% EBITDA margin guidance holds as project mix shifts to larger contracts.
- Progress on the proposed capital raise via convertible warrants.
The full read
B.R. Goyal Infrastructure's FY26 results show a company in the middle of a sharp growth curve. Revenue climbed 61% to ₹820 crore and net profit jumped 78% to ₹44.9 crore. The open question is how far this can go. Management is guiding for another 20-25% revenue increase in FY27 and plans to push EBITDA margins to 10-11% from 9.13%. To get there, the company is shifting its strategy. It will chase larger EPC contracts valued above ₹200 crore, expand into wastewater treatment, and explore toll-operate-transfer opportunities from NHAI's asset monetisation programme. The order book stands at ₹1,235 crore, with ₹1,500-2,000 crore in bids pending. For a ₹308 crore market-cap company, that pipeline is substantial. Management also plans a capital raise via convertible warrants to fund this push. The move to 10-11% margins hinges on whether these larger projects deliver the promised mix improvement.
Questions answered
- How fast did B.R. Goyal grow in FY26?
- Revenue jumped 61% year-on-year to ₹820 crore. Net profit grew even faster, rising 78% to ₹44.9 crore, driven by a 9.13% EBITDA margin.
- What is the company's growth guidance for the next year?
- Management is guiding for 20-25% revenue growth in FY27 and expects EBITDA margins to improve to the 10-11% range, up from 9.13% in the recently ended fiscal year.
- What strategic shifts is management planning?
- B.R. Goyal plans to pursue larger project contracts valued above ₹200 crore, expand its wastewater treatment business, and explore toll-operate-transfer (TOT) opportunities tied to NHAI's asset monetisation.
- What is the current order book situation?
- The company had a confirmed order book of ₹1,235 crore as of March 31. An additional ₹1,500-2,000 crore worth of bids were pending opening at that date.
- How will the company fund its growth plans?
- The management disclosed plans to raise capital via convertible warrants. This would provide funding for the planned expansion into larger projects and new verticals like wastewater treatment.
Story so far
All notes on BRGIL →- 5 Jun 2026 · 5:00 PM IST B.R. Goyal guides for 20-25% growth after 61% revenue surge
- 3d ago BR Goyal bags ₹118 cr NHAI plaza order, 42% of its own market cap
- 3d ago BR Goyal's order book missed its own target by 38%, and margins are being cut.
- 5d ago B.R. Goyal Infrastructure lifts annual profit 50% and targets new capital